Stock Track | Sportradar Stock Soars as Q3 Results Shine, 2024 Outlook Raised

Stock Track

Nov 08, 2024

Shares of Sportradar Group AG (SRAD) surged 15.49% on November 7, 2024, after the sports technology company reported impressive third-quarter financial results and raised its full-year guidance, fueled by strong demand for its products and services.

For the third quarter, Sportradar posted revenue of €255.2 million, a remarkable 27% increase from the same period last year and surpassing analysts' estimates of €238.5 million. This robust growth was driven by a 32% rise in the Betting Technology & Solutions segment and an 8% increase in Sports Content, Technology & Services.

The company's profitability also soared, with net income from continuing operations reaching €37.1 million, a significant jump from €4.6 million a year ago. This impressive performance was primarily attributed to the strong operating results and favorable foreign currency movements. Adjusted EBITDA for the quarter climbed 30% year-over-year to €65.8 million, with an Adjusted EBITDA margin of 25.8%.

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This robust growth was driven by a 32% rise in the Betting Technology & Solutions segment and an 8% increase in Sports Content, Technology & Services.</p>\n\n<p>The company's profitability also soared, with net income from continuing operations reaching €37.1 million, a significant jump from €4.6 million a year ago. This impressive performance was primarily attributed to the strong operating results and favorable foreign currency movements. Adjusted EBITDA for the quarter climbed 30% year-over-year to €65.8 million, with an Adjusted EBITDA margin of 25.8%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SRAD","symbol_name":"Sportradar Group AG","start_time":0,"source_url":"","article_id":"1128776676","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1128776676","pubTimestamp":1731033639,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Sportradar Group AG  surged 15.49% on November 7, 2024, after the sports technology company reported impressive third-quarter financial results and raised its full-year guidance, fueled by strong demand for its products and services.For the third quarter, Sportradar posted revenue of 255.2 million, a remarkable 27% increase from the same period last year and surpassing analysts' estimates of 238.5 million. 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